Please note that OptionsXpress has been discontinued and is no longer available. You can read our old review of OptionsXpress below, or check out the rest of the US Online Stock Trading Websites we've reviewed.
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In the world of stock trading a second or two can make all the difference between you getting a huge return on your money and losing it all. Traditionally you would call up your broker and tell him to do the buying and selling for you, but you could waste precious seconds getting through. With online trading you can react to market conditions almost instantly and make sure you put your money to work wisely. OptionsXpress is one of the leading online trading platforms and provides everything you need to make your fortune on the stock market. It's used by everyone from casual investors to risk taking professionals due to its high performance and usability which is why it comfortably sits head and shoulders above the competition in our number one spot.
As real-time information is of the utmost importance when it comes to making the stock market work for you the tools a trading platform provides make a big difference to how well you can take advantage of changing conditions. These are your window onto the market and have to show everything you need to know at a glance. OptionsXpress gets it bang on with this one by providing a wide range of tools to analyze potential investments.
The main trading platform for regular traders is a downloadable application that runs on Windows Pcs. With this you can completely customize the screen to show different tickers and live charts and graphs. There are also plenty of online tools that take you through the entire process of investing from screening potential investments, analyzing them, executing the trade and then monitoring progress. These are all brilliantly designed to show exactly the information you need and run at lightning speed.
OptionsXpress also provides mobile apps for all types of popular mobile devices, including iPhone and Android. These let you monitor your investments on the move and even place trades all through an easy to use mobile interface. Again speed is of the essence even when you are on the move, and these apps didn't disappoint in our tests.
The usability of the tools an online trading platform provides is very important if you want to be making quick trades and gathering as much information as possible. We found all the tools OptionsXpress offers to be extremely intuitive to use and quick to learn. The web site provides a range of tutorials to help you get the most out of them and customer support is only an email or phone call away.
All of these excellent tools would be no use without the analysis and research to help you make investment decisions. OptionsXpress offers a huge research center containing a wealth of information on strategies, investments and positions that is continuously updated. Beginners just starting out right through to professionals looking for in-depth analysis will find something here to interest them and improve their knowledge of the markets. You can also sign up to a daily newletter packed full of trading ideas.
If you are just starting out in the world of stocks and shares trading it can be quite risky to go making trades without having some confidence in what you are doing. OptionsXpress offers a virtual trading platform that will let you take advantage of all the tools available using live market data, but trading with virtual money. This lets you try out investment ideas or learn the ropes without risking any real cash. Of course you'll kick yourself if your virtual investment triples in value overnight, but it's worth it if it prevents you from making a loss!
On the subject of the different types of investment you can make OptionsXpress has it covered. A wide array is on offer including stocks, mutual funds and bonds with IRAs to retirement and savings plans. The fees and commisions for the services that OptionsXpress offers aren't the cheapest around, but we don't see that as a bad thing. They still offer excellent value for money when considering the quality of service the company presents.
OptionsXpress thoroughly deserves its place in our top ten list of online trading platforms. The tools and research it offers are excellent, allowing you to easily analyze market conditions and then quickly carry out your ideas. Even if you are an absolute beginner OptionsXpress will help you get up to speed in the world of stocks and shares by giving you access to a wide range of articles on the subject and letting you loose on the virtual trading platform. Then when it comes to placing real trades, whatever type of investment, you will find the fees very competitive, particularly if you make a lot of trades as then even better prices are possible.
Please note that OptionsXpress has now been discontinued.